Can you find flip opportunities in MLS listings?

[Shay Nir]

I am using different tactics on sites that show MLS listings to find flip opportunities.

I got the idea after watching Jerry Norton and others on YT who find many of their deals "on market" by conducting online research on sites such as Zillow, Redfin etc.

I am pretty experienced with excels and numbers and can cover a whole city in a few hours and find the best opportunities.

I don't have a physical presence (I live in Israel), so I can't validate my rehab estimates by actually looking at the property.

Here's my methodology:

Finding properties whose $/sqf is significantly below the average of that neighborhood.
Checking renovated comps.

Estimating the rehab cost by looking at the pictures (this is what you will need to validate).

I look for other indicators such as time on the market, usually >60 days, and for consecutive price reductions.

I calculate for what target purchase cost + rehab we can get 70% of ARV.

If the target cost is anywhere near the asking price, the lead is valid and can be sent for further evaluation with somebody in the area.

I have limited experience with a partner in Dallas who showed interest but I still didn't get a confirmation from him if he is actually going to close any of my leads.

I would love to know if you think there are "on market" opportunities and this method can actually find them?

If you have other methods for finding flip opportunities please share with us!

Thanks for any advice!